Shots:
- Torrent Pharma acquired a controlling stake in JB Pharma from KKR in a strategic move to build a diversified healthcare platform
- As per the deal, KKR will receive INR 25,689 crore (~$3B) Equity Valuation on a fully diluted basis. Torrent will acquire a 46.39% stake in JB Pharma for ₹11,917 crore (~$1.39B) at INR 1,600 (approx. $18.70) per share, followed by a mandatory open offer for up to 26% at ₹1,639.18/share (~$19.70), and may buy up to 2.8% from JB Pharma employees at the same price as KKR
- Torrent and JB Pharma will merge via a scheme of arrangement, with JB Pharma shareholders receiving 51 Torrent shares for every 100 JB Pharma shares held
Ref: Businesswire | Image: JB Pharma| Press Release
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